Payment Savvy

MAY 11, 2023

Visa has a set of rules and regulations that govern the use of its payment network, and these rules and regulations are subject to change from time to time. In this article, we will discuss the recent visa rule changes and how they impact you.

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Neopay

SEPTEMBER 26, 2024

The Financial Conduct Authority (FCA) is stepping in to strengthen protections for customers of payment and e-money firms. To address these ongoing concerns, the FCA has announced plans to tighten its regulations. The post FCA’s proposed new rules to protect customers of payments firms appeared first on Neopay.

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Neopay

JULY 18, 2024

The European Banking Authority (EBA) issued new Guidelines on the so-called ‘travel rule’, i.e. the information that should accompany transfers of funds and certain crypto assets. This rule will help tackle the abuse of such transfers for money laundering and terrorist financing purposes.

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Fintech Finance

OCTOBER 24, 2024

As the government plans to regulate buy now pay later firms by 2026, more than one in ten millennials (13%) and Gen Z (11%) consumers plan to put Christmas on credit using buy now pay later apps*, RSM UK’s latest Consumer Outlook reveals. RSM UK recommends providers take the following steps to prepare for the new regulation.

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VISTA InfoSec

OCTOBER 21, 2024

A data protection officer role is to act as a bridge between organizations, its employee, and the regulatory authorities ensuring that the handling of personal data is safe, lawful and in line with regulations like GDPR (General Data Protection Regulation). Additional Responsibilities of DPO (As seen in other Regulations) 1.

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Finovate

NOVEMBER 20, 2024

Fintek Securities holds an Australian Financial Services license and is regulated by the Australian Securities and Investments Commission. ” Lynch credited regulators for much of the positive sentiment in France toward crypto. The acquisition will help Crypto.com extend its services to crypto traders and investors in Australia.

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PYMNTS

JANUARY 20, 2021

The People’s Bank of China (PBOC) has issued new draft rules that seek to rein in any non-bank company that dominates at least half of the payments market or combination of two companies that dominate at least two-thirds of the market. The appearance surprised some China watchers.

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The Fintech Times

SEPTEMBER 20, 2024

The Markets in Crypto Assets Regulation (MiCA) came into play in June 2023, requiring firms issuing and trading crypto-assets to follow new, stricture rules covering transparency, disclosure, authorisation and supervision of transactions.

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Finovate

SEPTEMBER 18, 2024

The regulatory body is currently taking public comment on the rule. Maintaining records of custodial accounts will help regulators ensure that deposit insurance can be quickly and accurately provided in the event of a bank failure. A large piece of this provides clarity about FDIC insurance.

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Neopay

JULY 30, 2024

The Financial Conduct Authority (FCA) has launched a comprehensive review aimed at streamlining regulations to reduce burdens on businesses and foster economic growth. The FCA is calling on the financial industry to identify and highlight rules that could be simplified or eliminated if they overlap with the Consumer Duty.

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Payments Source

MARCH 16, 2021

As the Consumer Financial Protection Bureau weighs rules on protecting customer information shared between banks and third parties, it should consider giving consumers full authority over their financial data and committing to direct oversight of everyone involved, including data aggregators and fintechs. ]].

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The Payments Association

NOVEMBER 7, 2024

However, it is also under the perception of being beset by tough legal challenges, high fraud levels, and constant scrutiny from governments trying to regulate an industry evolving at a rapid pace. The state of play Navigating the fine tightrope that is regulation and compliance often feels like a maze.

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Fintech News

APRIL 2, 2024

The Monetary Authority of Singapore (MAS) has announced revisions to the Payment Services Act (PS Act) and related regulations, marking a significant expansion in the regulation of payment services within the country. Here’s are four key takeaways from the guidelines: 1.

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Fintech News

FEBRUARY 27, 2024

2023 marked a pivotal year in the Asia-Pacific (APAC) region’s approach to crypto regulation, influenced significantly by the preceding implosion of Sam Bankman-Fried’s FTX exchange and the collapse of of Terra, the algorithmic stablecoin created by Korean entrepreneur Do Kwon.

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The Fintech Times

JULY 27, 2024

After the Competition and Markets Authority (CMA), the UK competition regulator, revealed four UK high-street banks have failed to comply with banking rules designed to keep customers safe, we ask if tougher penalties or consequences are required. “Yes,” says Jeremy Baber , CEO of fintech firm Lanistar.

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PYMNTS

DECEMBER 14, 2018

In an effort to help authorized push payment (APP) fraud victims, The U.K.’s s Financial Conduct Authority (FCA) unveiled new rules on Friday (Dec. s Payment Systems Regulator (PSR) found that 100 scams hit businesses or consumers every day. The report also noted that the FOS can have compensation ordered for victims.

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PYMNTS

DECEMBER 18, 2020

Treasury Department proposed sweeping new rules late Friday (Dec. The rules effectively require financial institutions to report such digital transactions in much the same way they have been required to report cash transactions since 1970. The comment period ends Jan. 4, according to the official Federal Register posting.

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Neopay

JUNE 24, 2024

Earlier this month, industry body The Payments Association called on the incoming head of the Payments Systems Regulator (PSR) to delay activating new APP fraud regulations around reimbursements. Source : Payments Cards and Mobile The post New regulation on APP fraud will come into play as planned appeared first on Neopay.

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Neopay

DECEMBER 18, 2023

Given the cross-border nature of financial crime, the new authority will boost the efficiency of the anti-money laundering and countering the financing of terrorism (AML/CFT) framework, by creating an integrated mechanism with national supervisors to ensure obliged entities comply with AML/CFT-related obligations in the financial sector.

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BioCatch

SEPTEMBER 9, 2024

The United Kingdom’s new Authorised Push Payment (APP) reimbursement rules are slated to commence in under 30 days. Given the significant amount of consultation between the industry and the Payment Systems Regulator (PSR), you might well imagine that the details are set in stone.

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The Paypers

JULY 31, 2024

The Financial Conduct Authority (FCA) has initiated a review aimed at streamlining regulations for financial services firms.

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The Fintech Times

JANUARY 11, 2024

The Computer & Communications Industry Association (CCIA) has responded to the Consumer Financial Protection Bureu ‘s request for comments on a proposal to define and regulate larger participants in the general-use digital consumer payment marketplace.

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The Paypers

OCTOBER 9, 2023

UK-based Komainu has successfully registered with the UK Financial Conduct Authority just before the regulator issued new crypto marketing rules.

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PYMNTS

SEPTEMBER 13, 2020

Europe's biggest banks have called on the European Commission to implement tough regulations for cryptocurrencies, such as stablecoins, that would protect consumers and preserve state sovereignty in monetary policy, Reuters reported. In a joint statement Friday (Sept. The association declined to comment, Reuters reported.

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Global Fintech & Digital Assets

DECEMBER 18, 2023

By Jenny Cieplak , Parag Patel , Barrie VanBrackle , and Deric Behar On November 7, 2023, the Consumer Financial Protection Bureau (CFPB) proposed a rule, Defining Larger Participants of a Market for General-Use Digital Consumer Payment Applications (the Proposal), to supervise large providers of digital wallets and payment apps.

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Neopay

NOVEMBER 27, 2023

The Financial Conduct Authority (FCA) and the Bank of England (the Bank) are requesting feedback on their proposed approach to regulating stablecoins. The proposals to regulate stablecoins aim to protect consumers, prevent money laundering with a robust set of rules and to safeguard financial stability.

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Finextra

SEPTEMBER 19, 2024

On 12 September 2024, the Prudential Regulation Authority (PRA) issued PS9/24, marking the second pa.

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PYMNTS

MARCH 9, 2018

While the European Banking Authority has created a “roadmap” on how to regulate emerging FinTech services, the body is not keen on creating a unified approach to cryptocurrency regulation — at least not yet, Reuters reported.

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The Fintech Times

JUNE 10, 2024

The Payments Association is urging for a delay in the rollout of new authorised push payment (APP) fraud rules, leveraging the recent leadership change at the Payment Systems Regulator (PSR) as a pivotal moment to push for reconsideration. The rule changes require the FPS to ensure that Pay.UK

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The Fintech Times

JULY 10, 2024

Investment research budgets are increasing in 2024, particularly in the US, signalling a market rebound, but the potential implementation of the Financial Conduct Authority’ s (FCA) new payment rules could further reshape spending dynamics and competitive practices in Europe. ” What is MiFID II?

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Global Fintech & Digital Assets

NOVEMBER 16, 2023

Recognizing new realities in decentralization, the regulations aim to provide market players with governance flexibility within distributed ledger technology foundations. The Regulations were published on November 1, 2023. Latham & Watkins has advised ADGM in drafting the Regulations. Do the FSRA rules still apply?

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PYMNTS

JUNE 10, 2020

EU authorities can fine companies for violations under the General Data Protection Regulation (GDPR). In a statement, authorities said they intend to coordinate investigations and potential actions over TikTok’s practices across the EU, Bloomberg reported. Authorities said there are concerns about potential misuse.

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PYMNTS

OCTOBER 4, 2020

Nonprofit Nacha , which enables Automated Clearing House ( ACH ) payments, has adopted eight new amendments to the Nacha Operating Rules that a press release said will help to modernize the payment style. In addition, the new rules make explicit which scenarios are not appropriate for reversing ACH payments.

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Finextra

DECEMBER 15, 2023

A second debanking review revealed that NatWest has potentially violated Financial Conduct Authority (FCA) regulation.

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PYMNTS

JANUARY 1, 2021

If 2020 was the year of streaming media, of content done a million different ways, of apps and Apple, and Google’s and Amazon’s algorithms … it was also the year of Big Tech regulation, where 2020 set the stage for a 2021 that could be seismic in changing the way companies — from Facebook to Apple to debt collectors — interact with consumers.

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Fintech News

DECEMBER 18, 2023

The Monetary Authority of Singapore (MAS) has instructed remittance companies to only work with banks, card network operators such as UnionPay International, or licensed financial institutions to transfer funds to China for the next three months, beginning from 1 January 2024 to 31 March 2024.

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PYMNTS

NOVEMBER 30, 2020

The British government is establishing a new Digital Markets Unit tasked with enforcing laws that apply to Big Tech companies, such as Google and Facebook , authorities announced in a press release. s Competition and Markets Authority (CMA), the agency that oversees enforcement of antitrust laws. According to the U.K.

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